Swift to Buy Assets Of Cardinal Freight
Eight days after announcing a blockbuster merger with rival M.S. Carriers, Inc. (MSCA) of Memphis, Tenn., Phoenix-based Swift Transportation Co. (SWFT) struck another deal that expands its freight-hauling business in the eastern United States.
Swift Chairman Jerry C. Moyes said he expects the Cardinal acquisition to “complement both our existing and future East Coast operations.”
For the full story, see the Dec. 25 print edition of Transport Topics. Subscribe today.
Swift will purchase certain assets of the van division of Cardinal Freight Carriers, based in Concord, N.C., a move that could add as many as 600 tractors and 1,400 trailers to its fleet.
Under terms of the transaction, Swift will sublease from Cardinal tractors equivalent to the number of drivers hired and buy all of the trailers, Qualcomm communications units and miscellaneous assets for a total purchase price not to exceed $15 million.
 |  |
